The Federal Trade Commission will vote Feb. 17 whether to investigate the anticompetitive impacts of pharmacy benefit managers on independent pharmacies.
The PBM landscape has grown increasingly consolidated, and through acquisitions, payers have a big hand in the market.
Payers own the four largest PBMs, representing 87 percent of the PBM market share. The largest six PBMs control 97 percent of the market collectively.
The FTC proposal, if approved, would launch a study into how large PBMs — including payers' market dominance — influence drug prices in a way that may disadvantage pharmacies. The FTC did not issue additional details on what a study could include.